Kejriwal demands rollback of new EPF withdrawal norms

New Delhi, April 19 (IANS) Delhi Chief Minister Arvind Kejriwal on Tuesday demanded an immediate rollback of the proposed changes in the EPF withdrawal system, calling the government move a “tyranny of unelected people”.

“(Prime Minister Narendra) Modi changed the employee provident fund (EPF) withdrawal rules. Only 50 percent of the fund savings can now be withdrawn; the rest remains with the government till you turn 58. This is tyranny of the unelected people like (Finance Minister Arun) Jaitley ji. They have no idea of the pulse of the people. They are disconnected from reality,” Kejriwal tweeted.

“I demand that the prime minister and the finance minister roll back this rule as soon as possible,” he tweeted.

Kejriwal’s reaction came after the central government on Tuesday said it had decided to withhold till July 31 its decision on tightening rules on the withdrawal of provident fund.

“I was an employee myself and I stand with all employees against this draconian rule. PF is our only savings. We adults have the wisdom to manage it. Why is the government interfering? Why should my hard-earned savings remain with the government?” Kejriwal tweeted.

“Startup India is useless if an employee can’t withdraw his money and start his business when the government is squatting on his savings,” he said.

Labour Minister Bandaru Dattatreya earlier in the day said the final decision on the withdrawal of employer’s contribution to the provident fund corpus until the employee attains the age of 58 will be taken only after July 31.